Price to Sales (P/S)
since 2005
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Lockheed Martin Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
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Calculation
Lockheed Martin Corp., P/S, long-term trends, calculation
| P/S | = | Share price1, 2, 3 | ÷ | Sales per share1 | Sales per share1 | = | Sales1 (in millions) |
÷ | No. shares of common stock outstanding2 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 29, 2026 | = | ÷ | = | ÷ | |||||||
| Jan 28, 2025 | = | ÷ | = | ÷ | |||||||
| Jan 23, 2024 | = | ÷ | = | ÷ | |||||||
| Jan 26, 2023 | = | ÷ | = | ÷ | |||||||
| Jan 25, 2022 | = | ÷ | = | ÷ | |||||||
| Jan 28, 2021 | = | ÷ | = | ÷ | |||||||
| Feb 7, 2020 | = | ÷ | = | ÷ | |||||||
| Feb 8, 2019 | = | ÷ | = | ÷ | |||||||
| Feb 6, 2018 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2017 | = | ÷ | = | ÷ | |||||||
| Feb 24, 2016 | = | ÷ | = | ÷ | |||||||
| Feb 9, 2015 | = | ÷ | = | ÷ | |||||||
| Feb 14, 2014 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2013 | = | ÷ | = | ÷ | |||||||
| Feb 23, 2012 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2011 | = | ÷ | = | ÷ | |||||||
| Feb 25, 2010 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2009 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2008 | = | ÷ | = | ÷ | |||||||
| Feb 26, 2007 | = | ÷ | = | ÷ | |||||||
| Feb 28, 2006 | = | ÷ | = | ÷ |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$
2 Data adjusted for splits and stock dividends.
3 Closing price as at the filing date of Lockheed Martin Corp. Annual Report.
The Price-to-Sales (P/S) ratio for the observed period exhibits considerable fluctuation, though a general increasing trend is discernible over the long term. Initial values in the early to mid-2000s were relatively stable, followed by a period of volatility and then a more pronounced upward movement in the latter half of the period.
- Initial Period (2006-2009)
- The P/S ratio began at 0.86 in 2006 and increased to 1.08 in 2007, before decreasing to 1.03 in 2008. A significant decline was then observed in 2009, falling to 0.64. This initial period demonstrates moderate fluctuation around the 1.0 level, with the 2009 drop potentially reflecting broader economic conditions impacting sales expectations.
- Period of Stability and Gradual Increase (2010-2013)
- From 2010 to 2013, the P/S ratio remained relatively stable, fluctuating between 0.60 and 0.64. A slight upward trend began to emerge in 2013, with the ratio reaching 0.60. This suggests a period of consolidation after the 2009 downturn.
- Significant Increase (2014-2017)
- A notable increase in the P/S ratio occurred between 2014 and 2017, rising from 1.15 to 1.91. This represents a substantial shift, indicating increasing investor confidence and a willingness to pay more for each dollar of sales. The ratio peaked at 1.91 in 2017.
- Recent Fluctuations (2018-2026)
- Following the peak in 2017, the P/S ratio experienced a decrease to 1.58 in 2018, followed by a rise to 2.07 in 2020. A subsequent decline to 1.40 in 2021 was observed, before increasing again to 1.91 in 2026. This recent period demonstrates increased volatility, potentially reflecting changing market conditions and investor sentiment. The ratio ended the period at 1.91, similar to its peak in 2017.
Overall, the P/S ratio demonstrates a long-term upward trend, punctuated by periods of stability and volatility. The most significant increase occurred between 2014 and 2017, and the ratio has remained elevated in recent years, though with increased fluctuation. The observed changes in the P/S ratio likely reflect a combination of factors, including company performance, investor expectations, and broader economic conditions.
Comparison to Competitors
Lockheed Martin Corp., P/S, long-term trends, comparison to competitors
| Lockheed Martin Corp. | Boeing Co. | Caterpillar Inc. | Eaton Corp. plc | GE Aerospace | Honeywell International Inc. | RTX Corp. | |
|---|---|---|---|---|---|---|---|
| Jan 29, 2026 | |||||||
| Jan 28, 2025 | |||||||
| Jan 23, 2024 | |||||||
| Jan 26, 2023 | |||||||
| Jan 25, 2022 | |||||||
| Jan 28, 2021 | |||||||
| Feb 7, 2020 | |||||||
| Feb 8, 2019 | |||||||
| Feb 6, 2018 | |||||||
| Feb 9, 2017 | |||||||
| Feb 24, 2016 | |||||||
| Feb 9, 2015 | |||||||
| Feb 14, 2014 | |||||||
| Feb 28, 2013 | |||||||
| Feb 23, 2012 | |||||||
| Feb 25, 2011 | |||||||
| Feb 25, 2010 | |||||||
| Feb 26, 2009 | |||||||
| Feb 28, 2008 | |||||||
| Feb 26, 2007 | |||||||
| Feb 28, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Capital Goods)
Lockheed Martin Corp., P/S, long-term trends, comparison to sector (capital goods)
| Lockheed Martin Corp. | Capital Goods | |
|---|---|---|
| Jan 29, 2026 | ||
| Jan 28, 2025 | ||
| Jan 23, 2024 | ||
| Jan 26, 2023 | ||
| Jan 25, 2022 | ||
| Jan 28, 2021 | ||
| Feb 7, 2020 | ||
| Feb 8, 2019 | ||
| Feb 6, 2018 | ||
| Feb 9, 2017 | ||
| Feb 24, 2016 | ||
| Feb 9, 2015 | ||
| Feb 14, 2014 | ||
| Feb 28, 2013 | ||
| Feb 23, 2012 | ||
| Feb 25, 2011 | ||
| Feb 25, 2010 | ||
| Feb 26, 2009 | ||
| Feb 28, 2008 | ||
| Feb 26, 2007 | ||
| Feb 28, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Industrials)
Lockheed Martin Corp., P/S, long-term trends, comparison to industry (industrials)
| Lockheed Martin Corp. | Industrials | |
|---|---|---|
| Jan 29, 2026 | ||
| Jan 28, 2025 | ||
| Jan 23, 2024 | ||
| Jan 26, 2023 | ||
| Jan 25, 2022 | ||
| Jan 28, 2021 | ||
| Feb 7, 2020 | ||
| Feb 8, 2019 | ||
| Feb 6, 2018 | ||
| Feb 9, 2017 | ||
| Feb 24, 2016 | ||
| Feb 9, 2015 | ||
| Feb 14, 2014 | ||
| Feb 28, 2013 | ||
| Feb 23, 2012 | ||
| Feb 25, 2011 | ||
| Feb 25, 2010 | ||
| Feb 26, 2009 | ||
| Feb 28, 2008 | ||
| Feb 26, 2007 | ||
| Feb 28, 2006 |
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).